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VTB signed a cooperation agreement with the Export-Import Bank of China
Under the agreement between VTB and the Export-Import Bank of China, the parties plan to develop cooperation in the field of business support between Russian and Chinese companies. This was reported by the press office of VTB Bank.
“The agreement provides for the provision of a large credit line to VTB Bank in yuan or rubles equivalent to up to 2 billion US dollars. The credit line can be used to finance imports of a wide range of products from China, from food products to high-tech equipment, ”the report says.
The agreement between the two banks is one of the documents signed during the 19th regular meeting of the heads of government of the Russian Federation and the People's Republic of China. It was signed by the President - Chairman of the Board of VTB Bank Andrey Kostin and Vice President of the Export-Import Bank of China Yuan Sin'yon in the presence of Prime Minister Dmitry Medvedev and Premier of the State Council of the PRC Li Keqiang.